Factory Mutual Insurance Co. lifted its holdings in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,892.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,045,220 shares of the information services provider’s stock after purchasing an additional 1,942,554 shares during the period. Alphabet accounts for about 3.2% of Factory Mutual Insurance Co.’s investment portfolio, making the stock its 4th biggest holding. Factory Mutual Insurance Co.’s holdings in Alphabet were worth $196,648,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. OLD Second National Bank of Aurora lifted its position in Alphabet by 1,900.0% during the 3rd quarter. OLD Second National Bank of Aurora now owns 260 shares of the information services provider’s stock worth $25,000 after acquiring an additional 247 shares during the last quarter. Carolina Wealth Advisors LLC lifted its position in Alphabet by 1,900.0% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 300 shares of the information services provider’s stock worth $29,000 after acquiring an additional 285 shares during the last quarter. NewSquare Capital LLC lifted its position in Alphabet by 1,900.0% during the 3rd quarter. NewSquare Capital LLC now owns 320 shares of the information services provider’s stock worth $31,000 after acquiring an additional 304 shares during the last quarter. Schubert & Co lifted its position in Alphabet by 1,192.9% during the 3rd quarter. Schubert & Co now owns 362 shares of the information services provider’s stock worth $35,000 after acquiring an additional 334 shares during the last quarter. Finally, Avion Wealth lifted its position in Alphabet by 1,900.0% during the 3rd quarter. Avion Wealth now owns 380 shares of the information services provider’s stock worth $37,000 after acquiring an additional 361 shares during the last quarter. Institutional investors and hedge funds own 28.69% of the company’s stock.
Insider Transactions at Alphabet
In related news, major shareholder 2021 Gp L.L.C. Gv bought 182,312 shares of Alphabet stock in a transaction dated Wednesday, November 9th. The shares were bought at an average cost of $34.60 per share, for a total transaction of $6,307,995.20. Following the completion of the transaction, the insider now owns 1,294,527 shares of the company’s stock, valued at $44,790,634.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder 2021 Gp L.L.C. Gv bought 182,312 shares of Alphabet stock in a transaction dated Wednesday, November 9th. The shares were bought at an average cost of $34.60 per share, for a total transaction of $6,307,995.20. Following the completion of the transaction, the insider now owns 1,294,527 shares of the company’s stock, valued at $44,790,634.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 22,203 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the transaction, the senior vice president now owns 76,579 shares in the company, valued at $6,872,965.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,943 shares of company stock worth $3,454,353. Corporate insiders own 12.99% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on GOOG. Cowen cut their target price on shares of Alphabet from $135.00 to $125.00 and set an “outperform” rating for the company in a research report on Wednesday, January 11th. Sanford C. Bernstein set a $120.00 price objective on shares of Alphabet in a report on Thursday, January 12th. UBS Group set a $115.00 price objective on shares of Alphabet in a report on Thursday, January 12th. The Goldman Sachs Group set a $128.00 price objective on shares of Alphabet in a report on Friday. Finally, Credit Suisse Group set a $136.00 price objective on shares of Alphabet in a report on Friday. One investment analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $136.50.
Alphabet Price Performance
NASDAQ:GOOG opened at $105.22 on Monday. The firm has a market cap of $1.36 trillion, a PE ratio of 23.12, a price-to-earnings-growth ratio of 1.75 and a beta of 1.08. Alphabet Inc. has a 12 month low of $83.45 and a 12 month high of $144.54. The company has a quick ratio of 2.47, a current ratio of 2.52 and a debt-to-equity ratio of 0.06. The company’s 50-day moving average price is $94.15 and its two-hundred day moving average price is $101.14.
Alphabet (NASDAQ:GOOG – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The firm had revenue of $76.05 billion during the quarter, compared to analyst estimates of $76.49 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.58%. Alphabet’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.53 earnings per share. On average, equities analysts anticipate that Alphabet Inc. will post 5.02 EPS for the current fiscal year.
Alphabet Company Profile
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Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.
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